SkyPower Corp.

Marathon Capital, LLC Retained By SkyPower Corp for Sales Process - Bids Due October 5th, 2009

    Bannockburn, Illinois (ots/PRNewswire) - Marathon Capital, LLC is pleased to announce it has been retained by  SkyPower Corp., a Lehman Brothers Company, one of the leading independent renewable energy developers in Canada, in the sale of its Development Business comprised of all of SkyPower's wind and solar operating and development assets. Additionally, Marathon is advising on the separate but  concurrent sale of SkyPower's inventory of 134 GE 1.5xle wind turbines  (201MW). Marathon believes this process, which is now underway, represents an  extraordinary opportunity to acquire a significant wind and solar development  platform as well as certain fully developed and late-stage assets. Separately  the Company's turbine inventory represents substantial value relative to the comparable primary market for wind turbines.

    SkyPower has an extensive pipeline of renewable projects and established  relationships across Canada among all levels of government and with numerous  First Nations. SkyPower is also well positioned to benefit from recent  government sponsored renewable programs like the Ontario FIT (Feed in Tariff  Program) which is expected to be launched in the next few weeks. The Company  has developed 27.0 MW of operating wind projects and 9.0 MW of near operating  solar projects. The Company has a truly robust development pipeline which  includes 112.5 MW of projects which will move into construction in 2010; over  2,900 MW of advanced wind and solar development projects with a significant  concentration in the strategic Ontario market, and over 5,000 MW of early  stage wind and solar projects at varying stages of development. The Company  boasts sizable Ontario exposure including 72 MW of Wind and 82 MW of Solar Power Purchase Agreements with the Ontario Power Authority (OPA) under its  Renewable Energy Standard Offer Program (RESOP). Early in 2009 SkyPower was  awarded an additional 64.5MW Power Purchase Agreement in Ontario for a key  project in its portfolio. Additionally, SkyPower has secured significant land  rights through various landowner, crown land, and First Nations agreements, including over 850,000 acres in the Ontario market alone and access to up to  6 million acres of land across Canada.

    In order to facilitate the transition through a sale process, the Company, filed on August 12, 2009 for restructuring under the terms of the  Companies' Creditors Arrangement Act (CCAA). The court approved the sales  process on August 25th, 2009. The process will allow a buyer of any of the  Company's assets to purchase the assets free and clear of encumbrances  pursuant to an Order of the Court. Qualified purchasers, subject to the  execution of a Non Disclosure Agreement, will receive a Confidential  Investment Memorandum, comprehensive financial models and information, access  to an extensive data room and a management presentation. The binding bid date  for SkyPower's development business is October 5, 2009, as is the binding bid  date for the turbine inventory.

    Parties interested in participating in either process should immediately  contact Robert Stefani or Ted Brandt at Marathon Capital at +1-847-574-2670  or e-mail to

    About Marathon Capital, LLC

    Marathon Capital is an experienced investment banking firm focused on  the global energy and infrastructure markets, with expertise in renewable  energy investment and renewable energy finance. Marathon is headquartered  in Bannockburn, Illinois and maintains offices in New York City and San  Francisco.

    For further information: visit Marathon's website: or call +1-847-574-2670

ots Originaltext: SkyPower Corp.
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For further information: visit Marathon's website: or call +1-847-574-2670

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